Logitech To Cut About 600 Jobs
Poster: Aron Schatz
Posted on January 20, 2009 at 3:27:39 PM
In more signs of the time, Logitech will cut 600 jobs. The economy probably won't turn for at least a year so try to hang in there.
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The company expects to make the bulk of its job cuts in the fiscal fourth quarter and take a charge between $16 million to $18 million during the quarter. Overall, Logitech expects to take a $20 million to $24 million charge over the next 12 months. Logitech, a peripherals giant, sells to both retail stores and computer manufacturers and is facing a challenging time as its customers struggle, as well. Retail store Circuit City, for example, filed for a Chapter 11 reorganization bankruptcy in November but last week said it would have to liquidate after failing to find a buyer.